You should consider the color range, and general look of each. A lot of times, the difference between a monitor and a TV at the same size/resolution is going to be in the saturation, boldness, contrast, etc. If you're using a PS3 or Xbox, you might be better of going with the TV, as consoles have the video outputs optimized for TVs better than most monitors. In my experience, several console games look better on the TV, while the PC versions look better on the monitor, because the saturation and contrast in the game is set to compensate for the display's own qualities. I've seen a couple games (trying to remember which was the latest one) where the PC versions even have an "HDTV mode" in the display options, for just that reason. Putting on HDTV mode using a monitor looks kind of weird, but it makes the game look more natural than default, when using a TV.

Well they don't really make good 32 inches any more as it is all about making them as slim as possible... 2010 32 inches like the Samsung C580 and Sony EX500 perform better what you find in the 32 inch range on the market today, first and foremost because they used the older CCFL back lighting and not newer LEDs which ruin screen uniformity and cause clouding. The good TVs start at 42 inches, namely Panasonic plasma (ST60, GT60) which are among the best performers regardless of price.